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Abbott (ABT) Stock Lower, Alere Sues to Force $5.8 Billion Deal

NEW YORK (TheStreet) -- Shares of Abbott Laboratories (ABT) were edging down in midday trading on Friday as Alere (ALR) sued the medical device company alleging it failed to receive U.S. antitrust approval for their $5.8 billion merger, Bloomberg reports.

The Abbott Park, IL-based company did not "promptly secure antitrust approvals and other regulatory requirements," Alere said in a filing today in Delaware Chancery Court.

Abbott agreed to buy the company in January and has since attempted to get out of the deal. It has said Alere improperly withheld information that was needed to tie up the transaction, Bloomberg noted.

The deal values Alere stock at $56 per share.

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In April, Abbott also agreed to acquire St. Jude Medical (STJ) for $25...